Sorry, still a bit confused as to the thrust of this post. I don't think FBIcoin has much future in the developed world.
I can only assume that having recommended the Libra WP to read, that you have read it yourself?
Its quite explicit in its intention - a global currency. Sure, its initial target audience is the unbanked and those on the periphery of the financial system.
But for what purpose?
Is it so that they remain unbanked and on the periphery of the financial system? Or is it to empower them, affording real opportunities of wealth creation under the umbrella of a currency that is stable, has purchasing power and not open to manipulation by any tin-pot despot dictators?
If their vision bears fruit, what could possibly be the consequence? Could it be, a stable economic and political environment? Could it be opportunities to invest? Opportunities for foreign investment?
Its not just the developing world though, the poor in the US are also part of the target base. Here is a snippet from the WP (note the use of "All over the world" and not "In some parts of the world") which no doubt you have read;
"
All over the world, people with less money pay more for financial services. Hard-earned income is eroded by fees, from remittances and wire costs to overdraft and ATM charges. Payday loans can charge annualized interest rates of 400 percent or more, and finance charges can be as high as $30 just to borrow $100.4 "
This is the US they are talking about. Check the reference for yourself.
So in all of this is my perception that you really haven't grasped much notion of what is going on, or what is potentially going to occur.
Money is changing. We can all attest to the diminishing use of cash. But there is a plethora of innovations and advancements occurring, from automation, AI, climate change, theories on basic income, etc.
Would it not be conceivable to you, in anyway shape or form, that in 10,20yrs from now we will have done away with the majority, if not all, fiat currencies?
I dont know what would replace them, bitcoin perhaps, perhaps Libra, perhaps other. But the crypto space is not going away, and is evident by FB entry into this space it is my view that it is only going to become more embedded into mainstream society.
Very much the way FB itself has become embedded into society. Which I imagine, few people saw a need for it back in Zuckerbergs college days.
So if you dont see a need for Libra for your personal use is totally fine. But that from that perspective you discount its potential usage elsewhere in the developed world, and considering all the internet related changes that have occurred and are occurring, it is that is what is revealing. You dont appear to have grasped any sense of fundamental change occurring albeit it is right in front of you.
Ironically the financial crisis almost bolsters one's faith in the status quo.
Because if you we're bailed out, why wouldn't you have faith?
On the otherhand, there were millions, if not billions, who were not bailed out. You might of heard of some of them, the so-called Arab Spring, the migrants drowning in the Mediterranean. And closer to home, the emigrants who had to leave, the share holders of Anglo, the pension funds that were raided and the homeless.
Google any major city in the developed world and its homelessness situation, is it all a coincidence? Or a consequence of the bailouts?
The Brexiteers and the Trump-ets are the marginalised too. They blame immigrants and the EU, but they are simply the marginalised growing in greater number.